Hard to know how this will end.STAM is a good fellow shareholder...

Hard to know how this will end.
STAM is a good fellow shareholder to have-can not recall any investments they have made where they have treated fellow shareholders poorly, or unequally. Their investments, where they have a controlling interest, get liquidated/acquired at some stage and minority holders get the same benefits, if patient enough.
Interestingly, STAM has invested about $45m in loans to a residential developer in the last quarter(December report on STAM website).
Over the last 18 months, we have received 14c distributions/franking from EDC, IRR about 11%, better than bank interest, but well under the average 18-19% returns that STAM has over last decade and more, so hopefully EDC returns excess cash to us as soon as it is available.
Looking forward to seeing how much costs have been reduced when the interim results come out.
CVC sold their interest to STAM.
HNG/HCF seem busy with schoolwear business at present. Their management(ex CVC), established EDC and would know the business very well.
Dallek1